RE: Introduction to the Economics of Technology With Taskmaster4450
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"Economics of technology" That's a solid discussion theme worth a deeper look. Thanks for giving out these insights @taskmaster4450.
The central point of this conversation is that the pace of technological innovation - whether you’re looking at cryptocurrencies and blockchain or consumer electronics like smartphones, etc. - is happening so rapidly that it is creating entirely new economic impacts that can’t be measured by old standards & metrics.
From the above, technology is much more than hardware. There is a great need for economists to roll out new metrics to measure tech development in recent times.
My key take away in the podcast is that information is crucial in boosting the economies through technology. The ability of the tech developers to package information about their development or innovation is crucial in adding or taking away economic value to the organisation concerned.
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Information about technology and how it's being used is definitely vital - especially when we step back and take an investor's point of view. New metrics are constantly arising, but despite how much we believe tech is vital to the world, I think we're still at the cusp of understanding just how valuable innovative technology really is.
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Agreed, who are those responsible for this dissemination? The innovator, the investor, a third-party professional?
How then do we break it down to the common man?
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Personally, I think it's a mix of all 3. Especially when you find them in one form factor.
When you look at people like Elon Musk, he's a man who can articulate and excite people about a future that is filled with wondrous technology, innovation and growth. He's an innovator, an investor and he's a professional in terms of capability and day-to-day work life.
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